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Northern Petroleum Plc Announces Sale Of Netherlands Subsidiary To Vermilion Energy Inc's Vermilion Oil & Gas Netherlands BV


Tuesday, 1 Oct 2013 02:00am EDT 

Northern Petroleum Plc announced that it has entered into a binding sale and purchase agreement with Vermilion Oil & Gas Netherlands BV (Vermilion), a wholly owned subsidiary of Vermilion Energy Inc, for the sale of Northern Petroleum Nederland BV (NPN), the Company's wholly owned Netherlands operating subsidiary. The consideration for the sale will be satisfied as CDN27.5 million, payable in cash on completion; a net profit interest in the Papekop Production Licence (Papekop NPI) and * a net profit interest over any future production from unconventional reservoirs (Posidonia NPI). 

Company Quote

5.95
0.5 +9.26%
5 Mar 2015